BSC Navigator | 10.2026: Targeting GDP growth of over 12 percent in Q4 2026

I. Market performance after FTSE and MSCI upgrades and VN-Index forecast update 

• Vietnam and Asian Peers upon Upgrading to Secondary Emerging Market Status  
• Performance of Asian stock markets during the transition to Secondary Emerging 
• Review of Asian countries classified by MSCI and FTSE  
• Foreign capital flows and index performance in selected countries when MSCI and FTSE Russell reclassified markets 
• Over the long term, index performance is almost flat when MSCI upgrades or downgrades a market 
• VN-Index forecast update 2026 
• After the correction in 09/2026, the VN-Index P/E excluding Vin has returned to an attractive zone 

II. Global macroeconomics 

• Global macroeconomics: Geopolitical risks and trade policy weigh on growth momentum 
• Global monetary policies: Rising inflationary pressures driven by conflict 
• Global commodity prices and stock market 

III. Vietnam macroeconomics 

• Vietnam macroeconomic Indicator Forecasts 
• Notable policies 
• GDP 3Q2026: 9.01% y/y – Investment leads growth 
• Consumption: Expanding growth momentum 
• Monetary policy: Supporting growth while maintaining macroeconomic stability 
• Interbank market: Short-term rates remain volatile, while longer-term rates stay elevated 
• Energy prices are the main driver of rising inflation 
• Public investment disbursement: Keeping the momentum accelerating when entering Q4 
• Exchange rates & trade: Accelerating export growth is one of the factors supporting the VND 
• Industry and FDI have grown steadily alongside import and export activities 
• The government bond market 
• The corporate bond market: Issuance interest rates inched up 
• Vietnam Macroeconomic Heatmap 
   

IV. Vietnam Stock Market 

• VN-Index corrected 3.47% after the upgrade-expectation effect faded in September 
• Valuations are in an attractive zone 
• Market liquidity continued to decline  
• New securities accounts are rising but investors are still staying on the sidelines 
• Foreign investors returned to net selling in September 
• Mixed trading trends across domestic and foreign ETFs 
• Derivatives market saw subdued trading 
• Market breadth tilted negative in September 
• NPAT growth and sector performance: sectors are diverging 
• BSC30 and BSC50 performance compared to VN-Index (40) 
• BSC30, BSC50 Portfolios 

V. Appendix 

• October 2026 Event Calendar 
• 2026 Event Calendar 
• Vietnam and International stock markets performance